DPSGY Deutsche Post AG (PK)

By Kim Richters

Shares in Deutsche Post AG traded higher on Friday after the German freight-and-logistics group reported second-quarter results above analysts forecasts and backed its full-year earnings target.

At 0720 GMT, Deutsche Post shares were up 5.8% at EUR42.26.

The company's quarterly net profit rose to 1.46 billion euros ($1.50 billion) from EUR1.29 billion a year earlier, beating analysts expectations of EUR1.23 billion, according to consensus estimates provided by the company. Revenue increased 23% to EUR24.03 billion, while earnings before interest and taxes rose 12% to EUR2.34 billion. Analysts had expected revenue of EUR21.79 billion and EBIT of EUR2.01 billion.

Deutsche Post confirmed an EBIT guidance of EUR8 billion plus or minus 5% for 2022.

Analysts at Citi expect mid-single digit percentage upgrades to the full-year consensus estimates on the back of the company's update.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

August 05, 2022 03:45 ET (07:45 GMT)

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